SPECRIM Know Your Client (KYC) and Identity Verification (ID)

Conducting Know your client and ID verification for anti-money laundering purposes can be a balancing act; you want to make client acquisition as simple as possible, yet you have to protect your business, and yourself, from the threat of money laundering and non compliance.

Fortunately, electronic verification tools now make the process of verifying identity and screening individuals much easier. Specrim uses one of the leading electronic identity verification systems in the UK, enabling you to confidently verify a customer’s identity, comply with antimony laundering guidelines, and ensure that customers enjoy a seamless verification experience.

The system allows you to:

  • Maintain a paperless audit trail; Specrim KYI & ID stores checks indefinitely
  • Utilise positive and negative datasets in the due diligence process
  • Identify clients not physically present

How Specrim KYC & ID verify identity?

By screening personal details against a host of positive and negative datasets, Specrim helps you to quickly and easily confirm that a prospective client is who they say they are, whilst also flagging any potential risk.

The information can be screened in real-time, allowing you to meet both your customer satisfaction and business goals. Robust and comprehensive, Specrim KYC & ID performs the following key tasks:

  • Quickly verifies client/beneficial owner identity
  • Provides a detailed report for risk assessment
  • Screens against domestic and international datasets
  • Flags individuals listed on the CIFAS fraud database~
  • Identifies insolvent individuals

Will I be able to verify paper documentation?

In addition to interrogating a multitude of electronic datasets, Specrim KYC & ID also allows you to verify the following documents:

  • UK and International Passports
  • Travel Visas
  • ID Cards
  • GB Driving Licences
  • Credit/Debit Cards
  • National Insurance Numbers
  • National Health Service Numbers

We are also able though our property register tool able to verify the individual owns the property in question, providing you with further confidence.

How will Specrim KYC & ID help me to comply?

Developed to facilitate Customer Due Diligence compliance, Specrim KYC & ID meets the standards for electronic verification as set out in the Joint Money Laundering Steering Group (JMLSG) guidance; helping you comply with the Money Laundering Regulations 2007.

What are the benefits of using Specrim KYC & ID?

In addition to helping your business comply and adopt a risk-based approach to the threat of money laundering and related financial crimes, Specrim KYC & ID enables you to:

  • Cut the cost of verifying identity
  • Provide a seamless client acquisition experience
  • Reduce administrative overheads
  • Conduct business confidently and effectively